Overseas Trading: Apple Suppliers Weigh on Asia

Apple's disappointing earnings have the tech titan's suppliers tumbling

by Karee Venema

Published on Apr 27, 2016 at 8:39 AM
Updated on Jun 24, 2020 at 10:16 AM

Asian stocks edged lower, as Apple Inc. (NASDAQ:AAPL) suppliers slumped in the wake of the tech titan's disappointing earnings report. Additionally, traders took a cautious stance ahead of policy decisions from the U.S. Federal Reserve and the Bank of Japan (BoJ) -- due today and tomorrow, respectively. By the close, China's Shanghai Composite was off 0.4%, even after a report showed industrial profits rose the most since July 2014 in March. Elsewhere, a strengthening yen dragged Japan's Nikkei down 0.4%, while Hong Kong's Hang Seng and South Korea's Kospi each gave back 0.2%.

European markets are modestly higher at midday, as stocks react to the latest batch of quarterly earnings reports and rising crude oil futures. Traders are also keeping a close eye on Greece, after eurozone finance ministers postponed a meeting to give them more time to discuss the country's required bailout reforms. At last check, the German DAX is up 0.5%, the French CAC 40 is 0.4% higher, and London's FTSE 100 is flirting with a 0.2% lead, after a preliminary first-quarter gross domestic product (GDP) reading arrived in line with estimates.

Overseas Stocks April 27

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